A bank may sell any asset in the ordinary course of business, or with the approval of the commissioner [director of the financial institutions division of the regulation and licensing department] in any other circumstance, but the sale of all or substantially all of the assets of a bank or of a department thereof is governed by Section 58-4-9 NMSA 1978. History: 1953 Comp., § 48-22-27, enacted by Laws 1963, ch. 305, § 27. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Cross references. — For director of financial institutions, see 9-16-4 NMSA 1978.
New Mexico Legal Code